Executive director Graeme Trudgill urges sector to look at a long-term solution as he highlights that the industry does not have enough money to cover claims arising from the coronavirus crisis.
NDML is asking for some of Pool Re’s £6.6bn cash to be used to help businesses in the leisure and hospitality sector which have been hit by coronavirus.
The group, which has members including Aviva's Maurice Tulloch and RSA's Stephen Hester, is working closely with Pool Re to develop solutions to the crisis.
Pool Re to operate as it currently does until 31 March 2021, while a range of options are considered.
The organisations have worked with the government to develop the guidance.
Move follows Pool Re’s extension of its cover to include non-damage business interruption.
The Counter Terrorism and Border Security Bill, which outlines how Pool Re can operate, received Royal Assent yesterday (13 February).
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Biba calls for stability in rate of regulatory change, proportionate supervision and a global competition objective for the FCA
Keep up to date with the latest people moves.